Guideline Value for Krishna Street

Krishna Street guideline value

The current guideline value of Krishna Street in Koyakbedu village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the AnnaNagar SRO and is classified as Residential Class I Type - II.

How the guideline value of Krishna Street has changed

The guideline value for Krishna Street has undergone several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which then decreased to Rs 2,680 per sq.ft in 2017. Following this, the value increased significantly to Rs 4,000 per sq.ft in 2023, and further rose to Rs 4,400 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%. The register has no figures for the revisions in 2002, 2003, and 2007.

Guideline values in Koyakbedu

In Koyakbedu, there are 270 streets under the AnnaNagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median value is Rs 4,400 per sq.ft, making Krishna Street's 2024 figure equal to this median.

• Kulasekarapuram: Rs 3,300 per sq.ft (2024)
• Koyambedu School Road: Rs 3,300 per sq.ft (2024)
• Kothavari street: Rs 3,300 per sq.ft (2024)
• Kumaran Nagar 1st Cross Street: Rs 4,400 per sq.ft (2024)
• Kumaran Nagar 1st Main Road: Rs 4,400 per sq.ft (2024)
• Kumaran Nagar 1st Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty, charged at 7%, would be Rs 3,08,000, and the registration fee, charged at 2%, would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Krishna Street?

The Sub Registrar Office that covers Krishna Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Koyakbedu

The guideline value plays a crucial role in the registration process of properties in Koyakbedu. When buying or selling property, this value is used to determine the stamp duty and registration fees applicable, ensuring that all transactions are recorded at a standardized value.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. This value is updated periodically, and understanding these changes can help in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Krishna Street?

The current guideline value of Krishna Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 in 2012 to Rs 2,680 in 2017, then to Rs 4,000 in 2023, and finally to Rs 4,400 in 2024. This reflects a significant increase over the years.

What are the stamp duty and registration fees for properties on Krishna Street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles registrations for properties in Koyakbedu?

The AnnaNagar Sub Registrar Office handles registrations for properties in Koyakbedu, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that properties are registered at a standardized value, which is updated periodically.